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OFF-MARKET
Specialty properties

21405 Parks Mill Rd Abingdon, VA 24211

6,730 SF 7.06 ac lot Built 2004
Property ID
Property summary
AI-generated overview

This exceptional 7.06-acre property in Abingdon, Virginia, presents a unique investment opportunity. The Cascades at Parks Mill, established in 1780, boasts four distinct structures: a historic grist mill (partially operational), a modern bungalow (used as bridal suite and vacation rental), a 1,000 sq ft gathering lodge with expansive decks, and a handicapped-accessible bathhouse. The property features a man-made waterfall, paved pathways, multiple outdoor seating areas, and fire pits, creating a stunning visual landscape. The main mill building retains much of its original equipment and features open areas on multiple floors, along with a finished first-floor lounge. An adjacent parking area, currently leased until 2025, provides additional capacity. The property's 6,730 square feet are currently utilized as a wedding venue, but its versatile design and historic charm lend themselves to various uses, including but not limited to: distillery, brewery, winery, cidery, country store, vacation rentals, or a heritage tourism destination. The asking price is $824,000, with a price per square foot of $122.44. Built in 2004, the property offers a blend of historical significance and modern functionality, making it an attractive investment in the picturesque Washington County.

Property profile
Verified
Property type Specialty properties
Year built 2004
Total area 6,730 SF
Lot 7.06 ac (307,534 SF)
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Cascades at Parks Mill Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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